Tax Laws Amendment (2007 Measures No. 2) Act 2007 (78 of 2007)

Schedule 3   Research and development

Income Tax Assessment Act 1936

2   Subsection 73I(2)

Repeal the subsection, substitute:

(2) The choice must be made:

(a) in the company’s return of income for the tax offset year; or

(b) by notice in writing given to the Commissioner:

(i) for a year of income starting before the commencement of this subsection - before the end of the period that the Commissioner could amend an assessment for the company assuming such an assessment were made at that commencement; or

(ii) otherwise - before the end of the period that the Commissioner could amend an assessment for the company for the tax offset year.